Only if you carried GAP insurance will it pay off what you owe to the Lienholder. If not then they will only pay what they valued your car to be worth which may or may not be enough to pay off the loan.
What do you do if the insurance for a totaled car does not pay off the car loan?
If your car is worth 12K but you owe 20K on it will the insurance company pay it off if it is totaled in an accident?
At the time of purchase, the suggest to purchase GAP insurance may seem like a ploy by the salesman to sell you something you don’t need. However GAP insurance is a valuable option should this situation arise. GAP insurance is what its name implies, insurance coverage for the “GAP” inbetween the fair market value of your vehicle and the payoff amount.
If you have utter coverage and total your car will the insurance pay for another car even tho’ the one you crashed wasn’t paid off yet?
What can you do if your insurance is cancelled the same day you get in an accident and total your car?
Depends on when it was cancelled. Before or after the accident? When did you get the cancellation notice? If you were cancelled before, then obviously you were uninsured. If the accident was your fault, then any costs are yours alone and not the insurance company’s..
If you are in an accident and you have no insurance what will the bank do when they find out your car is totaled?
If you total your car in an accident can a insurance company pay below low blue book?
Each situation is different and there is no definite response to this because there is no stardard but Yes there is a possibility.
How much insurance will you receive for a car that was totaled in an accident?
Whose insurance pays if you are borrowing another’s car and are in an accident?
The insurance for the car will pay, not the driver. Sadly, you are not required to pay anything, but if you are a responsible person, then you will….especially if it was your fault.
Will car insurance pay for a car totaled in a DUI accident?
It should. If the “at fault” vehicle is insured, it’s supposed to cover the victim’s vehicle 100%. If the “at fault” vehicle has comprehensive and collision insurance that insurance is supposed to cover the at fault vehicle up to the deductable amount.Note that the toasted driver will liberate his insurance and be required to get the VERY expensive DUI “insurance endorsment” since he/she is now in the highest risk bracket..
BTW, when a tipsy driver causes a collision it’s not called an “accident”. Accident is when things just happen. Driving tipsy is the CAUSE of the collision and as such the collision is not called an accident. Call it a wreck, crash or just about anything else that takes away the implication of a random act.
If you only have liability and your car is totaled in an accident will your insurance pay for it?
If you are in an accident and it is your fault does your insurance pay for both cars?
No lovey not if your the one at fault… Insurance only covers the other person if your at fault sorry honey……
It depends on what insurance coverage you have. The liability coverage that all states require you to carry on any registered vehicle will cover the other person’s harm. If you also purchased collision insurance, that will pay for your vehicle (less the deductable).
Can carriers raise your premiums for a serious accident where your car is totaled and the insurance company pays for your car but the insurance investigator ruled that the accident was not your fault?
yes if your ins.co. pays for your car..
They CanEven if they don’t pay for your car. My agent warned me that my homeowners premiums could be raised just for filing claims! They used to send an adjustor out automatically if there was a hailstorm or windstorm, but not any more. I just dreamed an ajustor to estimate the harm last spring and let me know if it would exceed my deductible.
Can a car be taken to pay off credit card debt?
What would you do if you have no car insurance and got into a car accident but havent embarked paying off that fee and then got into another car accident where the car was totaled and it is your fault?
You should stop driving instantly. It is illegal to drive any vehicle without meeting your state’s Financial Responsibilty Requirements..
Stop driving! If you still didn’t have insurance when you got into your 2nd accident, they’ll most likely suspend your license and if you’re then caught driving they’ll throw you in jail. If you can’t afford insurance you can’t afford to own a car!! Based on your driving record thusfar you need utter coverage!!
If my car is totaled and not paid for will your insurance pay for it?
In most cases, insurance companies are only required to pay up to the book value of your car. What this means is that if you owe $15,000 on a car loan and the car is only worth $12,000, you will still be held responsible for the remaining balance which in this case would be $Three,000. This is also known as being upside down. If you purchase GAP, a.k.a a debt cancellation contract, then you would not be held liable for the remaining $Trio,000. This is why it pays to purchase a car that has good residual value meaning it shouldn’t depreciate much quicker than you are able to pay off your loan.
Your friend sold you his car take over paymentsHe took the car off his insurance you insured the car and then totaled it but you are not on the title Will your insurance company pay for it?
As long as you have the title that he signed off of it and you signed on and you have insurance on the vehicle it will be covered.
Will bankruptcy pay off car debt?
No. The secured property may be sold to pay the debt. However, you may (possibly) escape any deficiency that sale brings.
Does the car insurance pay the debt when the possessor dies?
Will car insurance pay if totaled car?
If your car is out for repo but has been totaled in a car accident are you still repsonsible for the payments or will the insurance company pay off?
If you have utter coverage car insurance and you have an accident and are killed does insurance pay settlement?
If you are in a car accident and the car is totaled does your car loan get paid off through insurance?
Will private medical insurance or car insurance pay medical expenses in an auto accident?
Your finance car was stolen does your insurance claim go to your finance company to pay off the cars debt?
You were in a car accident had insurance but the car was totaled and the car was not in your name Do you get compensated to get a fresh vehicle?
If you have utter coverage insurance and have a car accident will the insurance company pay off your car if you still owe on the car?
Will my health insurance deny to pay if I am in an accident and if I don’t have car insurance?
If a car is considered a total loss after an accident and the insurance company pays you for what the car is worth do you still have coverage on that vehicle if you contnue to drive it?
Single car accident no injuries but car totaled will insurance pay?
Is it better to have the car insurance pay for harm after an accident or just pay cash?
Can your car insurance not pay if you have an accident in the insured vehicle but no valid license?
Totaled in a auto accident can I get my rims off of my car?
Do you still have to pay your car insurance if your car is off the road?
When you are in an auto accident with no insurance will the other persons insurance pay for their cars damages?
If your car is totaled do you still have to pay off the insurance policy?
Does car insurance or medicare pay for hospitalization due to a car accident?
Where do I get help to pay for my car accidents and insurance in hit and run?
What kind of car insurance pays for your injuries when you’re in an accident in your car?
Car totaled insurance value car at 16000 and loan amt is 12400 can you use your gap insurance to pay off car loan?